Leading consumer goods company, NASCON Allied Industries Plc is targeting more market share in the food sector through increased product range and innovation. According to its Executive Director, Commercial, Fatima Aliko-Dangote, the company, which added three new products in 2018, would be introducing more products this year as part of strategies to meet the needs of its varied customer base.
Dangote, who spoke at the annual general meeting (AGM) of the Dangote Industries Limited subsidiary held in Lagos yesterday, said NASCON products are widely accepted in the market.
On strategy, the Managing Director, Paul Farrer said the company, having demonstrated its resilience in the challenging environment of 2018, is strongly focused on capacity growth and increased market penetration. He disclosed that the company would be leveraging on a number of synergies including improved output in terms of quality, quantity and business efficiency to deliver value for all stakeholders.
On the new products introduced in 2018, he said, “…we launched the Dangote Stew Mix, Dangote Curry and Dangote Classic Seasoning. These three products are part of a wider product enrichment plan to diversify our product portfolio. The products were specifically developed to meet and surpass the needs of our consumers across the country.
“Each of these products has been tailored to suit the local taste and cooking habits of the different regions in Nigeria. We would continue to differentiate ourselves in our product category by consistently delivering high quality, nutritious products.”
Shareholders at the AGM took turns to laud the board and management of NASCON for a good outing in 2018 and counselled the latter to do better in the present year. A shareholder, Olagoke Olusegun commended the quality of the board of directors, which he said consists of vibrant and experienced members who oversee and influence the activities of the management team.
According to him, the good synergy between the board and management is seen in the performance of the company despite the harsh operating environment manufacturing companies faced in 2018.
He also tasked the management to pay more attention to the welfare of staff who are key to the performance of the company. Olusegun said the management should adhere to the best operating guidelines in order not to run afoul of regulatory agencies’ requirements.
A leading shareholders’ rights activist, Sunny Nwosu, in his remarks, lauded the board and management for their ability to declare and pay dividends despite the harsh operating environment which resulted from the Apapa Wharf gridlock and the downturn in the national economy.